Read what Steven Scarlett, partner at Lovewell Blake has to say about family businesses.
Family businesses typically begin with the drive and ambition of a single person – in the case of Colorcote (Norfolk) Ltd it was Steve Baker who had been involved in some of the early powder coatings technology 30 years ago.
The technique of coating materials with fluidized powder and then baking in an oven was providing a better, more permanent, efficient, and environmentally-friendly finish than conventional paint. This process is applied to 90pc of aluminium and steel products used today.
With several years’ experience in the technology, he decided to venture out on his own in 1985 and rented 3,000sq ft of premises on the former Hethel airfield with £20,000 of capital.